312 Ind. Admin. Code 17-1-11

Current through October 2, 2024

Section 312 IAC 17-1-11 - Royalties; rental fees

Authority: IC 14-38-1-19

Affected: IC 14-38-1-11; IC 14-38-1-12

Sec. 11.

The royalties to the state for a lease under this rule shall be twelve and one-half percent (121/2%) of petroleum produced and saved (or the market value of the petroleum at the option of the commission). The annual rental shall be one dollar ($1) an acre payable in advance.

312 IAC 17-1-11

Natural Resources Commission; 312 IAC 17-1-11; filed Feb 23, 1998, 11:30 a.m.: 21 IR 2348; readopted filed Nov 17, 2004, 11:00 a.m.: 28 IR 1315; readopted filed Mar 25, 2010, 2:59 p.m.: 20100421-IR-312100038RFA

Readopted filed 9/30/2015, 12:13 p.m.: 20151028-IR-312150224RFA

Readopted filed 5/19/2021, 4:17 p.m.: 20210616-IR-312210111RFA